
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
In November, American import prices went down by the most for more than three years due to the fact that the cost of petroleum products decreased and a strong evergreen buck suppressed prices of other goods, indicating descending imported inflation in the near term.
On Thursday, the Labor Department uncovered that import prices lost 1.6% the previous month. It happens to be the biggest tumble since August 2015, following an unrevised 0.5% leap in October.
Financial analysts had hoped import prices would inch down by 0.9% in November.
In November, prices for imported fuels as well as lubricants went down by 11% having soared by 3.2% in October. Besides this, prices for imported petroleum inched down by 12.1%, which appears to be the greatest sink since January 2016, having leapt by 2.7% in October.
Since the beginning of October, crude prices have gone down by a third against the backdrop of fears about oversupply as well as a decelerating global economy.
In November, food prices went down by 2.2%, reversing October's 2.2% leap. Moreover, without food and fuels, import prices dived by 0.2% in November after being intact in October. The so-called core import prices surged by 0.4% for the 12 months through November.
The dismal core import price readings actually reflect the firm greenback that has surged nearly 8% in 2018 versus the currencies of America’s key trade partners.
According to this report, in November, export prices went down by 0.9%, which is the biggest slump since January 2016, having surged by 0.5% in October. Apparently, a 1.8% rebound in prices of agricultural exports was partly compensated by a 1% sink in prices of nonagricultural products.
In November, on a year-on-year basis export prices rallied by 1.8% having ascended by 3.1% in October.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
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